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Sierra Cables’ share sale bolsters bourse; indices wax positive

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The CSE yesterday was somewhat active because Sierra Cables contributed more than half of the turnover. The company sold its shares at a price 24 percent lower than the previous price level. Market sources revealed that an LOLC Group company purchased 146 million Sierra Cables shares at a market price of Rs 12.30 per share, amounting to Rs 1.8 billion.

This gave some impetus to the market and the All Share Price Index also became positive. Sierra Cable’s previous price was Rs 15.50. Consequently, the All Share Price Index went up by 256.7 points, while S and P SL20 rose by 98.3 points. Turnover stood at Rs 3.67 billion with four crossings.

Those crossings were reported in Citizens Developments Business Finance, where two million shares crossed to the tune of Rs 464 million; its shares traded at Rs 232, HNB 295,000 shares crossed for Rs 90 million; its shares traded at Rs 305, JKH, 4 million shares crossed to the tune of Rs 80.8 million; its shares traded at Rs 20.20 and TJ Lanka 900,000 shares crossed for Rs 44.6 million; its shares traded at Rs 49.50.

In the retail market top six companies that mainly contributed to the turnover were; Sierra Cables Rs 1.8 billion (146 million shares traded), CCS Rs 168 million (2.2 million shares traded), JKH Rs 79.5 million (3.9 million shares traded), Sampath Bank Rs 67.8 million (562,000 shares traded), TJ Lanka Rs 60 million (1.2 million shares traded) and Vallibel One Rs 58.4 million (one million shares traded). During the day 197 million share volumes changed hands in 11468 transactions.

It is said that manufacturing sector entities were the main contributors to the turnover, especially with Sierra Cables and JKH, while banking sector counters were the second highest contributor to the market turnover.

Yesterday, the rupee was quoted at Rs 296.45/65 to the US dollar in the spot market, weaker from 296.30/40 the previous day, dealers said, while bond yields were slightly down.

A bond maturing on 01.07.2028 was quoted at 9.75/85 percent, down from 9.84/90 percent. A bond maturing on 15.09.2029 was quoted at 10.08/15 percent, down from 10.14/20 percent. A bond maturing on 15.10.2030 was quoted at 10.25/34 percent, down from 10.25/38 percent. A bond maturing on 15.12.2032 was quoted at 10.75/85 percent, down from 10.85/97 percent.

By Hiran H. Senewiratne



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From import to export – Finch Foods expands international retail presence to Australia

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Finch Foods booth exhibiting at Foodex Japan in Tokyo

Finch Foods – pioneering Sri Lankan FMCG brand – is furthering its international expansion with the launch of its retail presence in Australia. The move marks yet another turning point for the homegrown company, following four international market launches under the Finch Foods brand within the space of just three years, a company news release said on Wednesday.

This milestone entry includes a dedicated e-commerce site, a listing on Amazon AU, and ongoing discussions with major supermarket chains, specialty stores, and distributors. Australian consumers can now access Finch Foods’ extensive portfolio of high-quality signature spices and seasonings, coconut products, gluten-free flours, ayurvedic and herbal products, and natural food colourings that showcase the rich variety and distinctiveness of Sri Lankan ingredients, it said.

“Australia has always been a key market for Finch Foods – one with immense potential to enter, develop, and scale,” says Fawaz Fassi, Founder & Managing Director of Finch Foods. “This expansion reflects the growing global demand for authentic Sri Lankan heritage ingredients, and we are excited to bring our unique offerings to Australian consumers.”

Founded in 2015 as a 100 per cent import-driven company, Finch Foods entered the food industry by becoming the exclusive agent for renowned international brands such as Bragg Live Foods (USA), The Berry Company (UK), Kewpie (Japan/Malaysia), Cornish (UK), Pokka (Singapore), and Nando’s Grocery; bringing superior flavours and ingredients from around the world to Sri Lankan consumers.

However, the global pandemic followed by local economic instability severely tested this business model, and in just a few years since inception, it was time for the company to rethink its operations. In 2022 Finch Foods set its sights outwards by looking inwards; having discovered that there was a wealth of incredible spices, herbs, and ingredients to be found right here in Sri Lanka – robust and nuanced flavours that would surely intrigue culinary tastebuds from around the world.

“As a pioneer in culinary innovation, our vision is to harness the rich and diverse culinary tradition of Sri Lanka while also bridging the growing disconnect between food and its heritage,” Fassi adds. “At Finch Foods, we recognized the need to add unique value to our products—offering new and exciting options for consumers while distinguishing ourselves from more traditional exporters in the market.”

In 2023, Finch Foods celebrated the opening of its first independent store in Havelock City Mall, Colombo, and expanded its international footprint; establishing a retail presence in Hong Kong, the Czech Republic, and Canada, becoming a key supplier to Japan, and securing a partnership with global retail giant Lulu Group in the UAE. This shift to exports has allowed the company to adapt to different market requirements, leveraging its wide product range to remain flexible in catering to diverse consumer needs.

“As Finch Foods continues to expand its distribution network and strengthen its presence in Australia, the company is also poised to to focus on accelerating its global expansion, breaking into new markets, while also further diversifying its product portfolio,” the release concluded.

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Dearo Investment partners with Ceylinco General Insurance to enhance customer benefits

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Officials of Dearo Investment and Ceylinco General Insurance exchanging the MoU

Dearo Investment Pvt. Ltd. has signed an MoU with Ceylinco General Insurance to provide an insurance scheme for its customers. Under this agreement, every customer who transacts with Dearo from anywhere in the country will receive insurance coverage. The MoU was officially signed on 26 Feb, 2025. The signing ceremony was attended by key representatives from both organisations. Dearo Investment was represented by Chief Executive Officer and Managing Director Prasanna Sanjeewa and Chief Operating Officer Niranjan Warnasooriya, while Ceylinco General Insurance was represented by General Manager S. Thilakesh, Assistant General Manager V.K. Gunathilaka, Area Sales Manager N.G.C. Gunarathna, and Senior Marketing Executive Keshara Hasun. Dearo Investment has flourished as a trusted name in the financial sector with its highly experienced Board of Directors, including Prabash Gunaratne, Upul Edirisuriya, Tharindu Dhananjaya Samarawickrama, Niranjan Warnasooriya, and Thilini Kalhari Ekanayake.

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The Residencies Kotte by ICC nears completion ahead of schedule

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The Residencies Kotte by ICC is making remarkable progress, moving ahead of schedule towards completion (December 2025). With ICC’s proven track record of on-time delivery and availability running low, this is a rare opportunity to invest in a home that blends modern luxury with a thriving community, said a release.

It said: Now in its final phase, key milestones are being completed at an accelerated pace. From the striking façade to the finishing touches within each apartment, every element is meticulously crafted to meet ICC’s highest standards.

As The Residencies Kotte nears completion, demand has surged. With all two-bedroom apartments already sold out, only a limited number of three-bedroom units remain available. This overwhelming response is a testament to the unmatched value, world-class amenities, and most importantly, the prime location. Nestled in the heart of Kotte, this development offers unparalleled convenience—situated in a highly sought-after neighbourhood that seamlessly blends urban connectivity with the tranquillity of a well-established residential area.

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